AFC Gamma, Inc. (NASDAQ:AFCG) CEO Buys $197,875.48 in Stock

AFC Gamma, Inc. (NASDAQ:AFCG) CEO Daniel Neville bought 30,349 shares of the company’s stock in a transaction on Friday, March 14th. The stock was bought at an average price of $6.52 per share, for a total transaction of $197,875.48. Following the completion of the purchase, the chief executive officer now directly owns 161,011 shares in the company, valued at approximately $1,049,791.72. This represents a 23.23 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

Daniel Neville also recently made the following trade(s):

• On Monday, March 17th, Daniel Neville bought 16,250 shares of AFC Gamma stock. The stock was bought at an average price of $6.32 per share, for a total transaction of $102,700.00.

AFC Gamma Price Performance

Shares of AFCG opened at $6.30 on Tuesday. The company has a 50 day moving average price of $8.30 and a 200-day moving average price of $9.24. AFC Gamma, Inc. has a fifty-two week low of $6.08 and a fifty-two week high of $13.28. The stock has a market capitalization of $138.30 million, a PE ratio of 15.75 and a beta of 1.03. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.92 and a current ratio of 3.92.

Institutional Investors Weigh In On AFC Gamma

Several hedge funds have recently modified their holdings of the business. Tidal Investments LLC lifted its position in AFC Gamma by 19.7% during the third quarter. Tidal Investments LLC now owns 519,610 shares of the company’s stock valued at $5,305,000 after acquiring an additional 85,655 shares during the last quarter. State Street Corp lifted its position in AFC Gamma by 2.8% during the third quarter. State Street Corp now owns 376,611 shares of the company’s stock valued at $3,968,000 after acquiring an additional 10,320 shares during the last quarter. Penserra Capital Management LLC lifted its position in AFC Gamma by 22.9% during the third quarter. Penserra Capital Management LLC now owns 78,261 shares of the company’s stock valued at $799,000 after acquiring an additional 14,570 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in AFC Gamma by 4.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 50,403 shares of the company’s stock valued at $515,000 after acquiring an additional 2,200 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in AFC Gamma by 57.8% during the third quarter. Geode Capital Management LLC now owns 24,225 shares of the company’s stock valued at $248,000 after acquiring an additional 8,877 shares during the last quarter. Hedge funds and other institutional investors own 26.53% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on AFCG. JMP Securities restated a “market perform” rating on shares of AFC Gamma in a research note on Thursday, January 23rd. Jefferies Financial Group cut shares of AFC Gamma from a “buy” rating to a “hold” rating and lowered their price target for the stock from $10.00 to $7.00 in a research report on Friday. Finally, Alliance Global Partners initiated coverage on shares of AFC Gamma in a research report on Tuesday, December 17th. They issued a “buy” rating and a $13.00 price target for the company. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $9.67.

About AFC Gamma

AFC Gamma, Inc originates, structures, underwrites, and invests in senior secured loans, and other various commercial real estate loans and debt securities for established companies operating in the cannabis industry. It primarily originates loans structured as senior loans secured by real estate, equipment, and licenses and/or other assets of the loan parties to the extent permitted by applicable laws and the regulations governing such loan parties.